Preparing for the Unexpected

Transcription

1 * While many people understand the need to protect their families in the event of their death, they may not realize the potential financial impact of a disability. Owning life insurance is an important step toward providing for your family. In the event of your death, your life insurance policy can help your family keep their lifestyle intact providing some stability as they deal with the financial and emotional impact of their loss. working for you. disability insurance At MetLife we re working hard when you can t to provide you with income when you need it most. We have the experience, resources and commitment to help you safeguard the things that matter most to you. Discover the protection of disability insurance backed by the strength of MetLife. Like most disability insurance policies, MetLife s policies contain certain exclusions, waiting periods, reductions, limitations and terms for keeping them in force. Ask your representative about costs and complete details. All policies, riders and provisions may not be available in all states, at all issue ages and to all occupational classes. Ask your representative for complete details. Eligibility is subject to underwriting approval. MetLife, its agents and representatives do not provide tax and/or legal advice. For policies issued in New York: These policies provide disability income insurance only. They do NOT provide basic hospital, basic medical or major medical insurance as defined by the New York State Department of Financial Services. The expected benefit ratio for these policies is at least 50%. This ratio is the portion of future premiums that MetLife expects to return as benefits when averaged over all people with the applicable policy. But what would happen if you lost your income Disability income insurance is issued by Metropolitan Life Insurance Company on IDI2000-P/NC, IDI2000-P/NC-ML, IDI2000-P/GR, AH 5-88, AH 7-96-CA, AH 8-96-CA, and IDIP12-01-IDIP because of a disability? A disabling injury or illness might not just prevent you from bringing home your Life insurance products are issued by MetLife Insurance Company USA, Charlotte NC 28277, in all jurisdictions except New York, where permanent life insurance products are issued by Metropolitan Life Insurance Company, New York, NY and term life insurance products are issued by Metropolitan Life Insurance Company, New York, NY All guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company. Variable products are distributed by MetLife Investors Distribution Company. All are MetLife companies. paycheck; you might also require more resources than when you were healthy. For instance, you might have higher medical bills or need help around the house. Whether due to your death or disability, the unexpected Not FDIC-Insured Not Insured By Any Federal Government Agency Not Guaranteed by Any Bank or Credit Union loss of your income would likely affect your day-to-day life and long-term plans. For most people, income makes a lot of things possible, including: Paying for ongoing expenses, like the mortgage, groceries and car payments Working towards retirement and other financial goals Maintaining their family s way of life If you could no longer work due to illness or injury, Preparing for the Unexpected disability insurance could help maintain you and your family s financial stability. Disability insurance provides a monthly benefit that can help keep things on track until you re back on your feet and able to return to work. Metropolitan Life Insurance Company 200 Park Avenue New York, NY metlife.com CLDI24394 L [1115][All States][DC] 2014 METLIFE, INC. balancing your life and disability protection

2 * While many people understand the need to protect their families in the event of their death, they may not realize the potential financial impact of a disability. Owning life insurance is an important step toward providing for your family. In the event of your death, your life insurance policy can help your family keep their lifestyle intact providing some stability as they deal with the financial and emotional impact of their loss. working for you. disability insurance At MetLife we re working hard when you can t to provide you with income when you need it most. We have the experience, resources and commitment to help you safeguard the things that matter most to you. Discover the protection of disability insurance backed by the strength of MetLife. Like most disability insurance policies, MetLife s policies contain certain exclusions, waiting periods, reductions, limitations and terms for keeping them in force. Ask your representative about costs and complete details. All policies, riders and provisions may not be available in all states, at all issue ages and to all occupational classes. Ask your representative for complete details. Eligibility is subject to underwriting approval. MetLife, its agents and representatives do not provide tax and/or legal advice. For policies issued in New York: These policies provide disability income insurance only. They do NOT provide basic hospital, basic medical or major medical insurance as defined by the New York State Department of Financial Services. The expected benefit ratio for these policies is at least 50%. This ratio is the portion of future premiums that MetLife expects to return as benefits when averaged over all people with the applicable policy. But what would happen if you lost your income Disability income insurance is issued by Metropolitan Life Insurance Company on IDI2000-P/NC, IDI2000-P/NC-ML, IDI2000-P/GR, AH 5-88, AH 7-96-CA, AH 8-96-CA, and IDIP12-01-IDIP because of a disability? A disabling injury or illness might not just prevent you from bringing home your Life insurance products are issued by MetLife Insurance Company USA, Charlotte NC 28277, in all jurisdictions except New York, where permanent life insurance products are issued by Metropolitan Life Insurance Company, New York, NY and term life insurance products are issued by Metropolitan Life Insurance Company, New York, NY All guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company. Variable products are distributed by MetLife Investors Distribution Company. All are MetLife companies. paycheck; you might also require more resources than when you were healthy. For instance, you might have higher medical bills or need help around the house. Whether due to your death or disability, the unexpected Not FDIC-Insured Not Insured By Any Federal Government Agency Not Guaranteed by Any Bank or Credit Union loss of your income would likely affect your day-to-day life and long-term plans. For most people, income makes a lot of things possible, including: Paying for ongoing expenses, like the mortgage, groceries and car payments Working towards retirement and other financial goals Maintaining their family s way of life If you could no longer work due to illness or injury, Preparing for the Unexpected disability insurance could help maintain you and your family s financial stability. Disability insurance provides a monthly benefit that can help keep things on track until you re back on your feet and able to return to work. Metropolitan Life Insurance Company 200 Park Avenue New York, NY metlife.com CLDI24394 L [1115][All States][DC] 2014 METLIFE, INC. balancing your life and disability protection

3 Meet Stephen & Marie Let s see disability insurance at work. Stephen & Marie example What will it cost Stephen and Marie to balance their income protection plan with disability insurance? WITH MetLife Income Guard We work hard to provide for our family. We purchased life insurance policies, so we know that our family will have a source of income if one or both of us dies unexpectedly. Now we re wondering what would happen if a disability costs us one or both of our incomes. Monthly Benefit Monthly Premium Annual Premium Stephen $3,750 $114 $1,326 Marie $3,350 $137 $1,586 $251 $2,912 Total Cost Budgeting $250 a month could prevent an unexpected, indefinite loss of income and keep their plans on track. Assumptions: MetLife Income GuardSM S tephen: Male, age 40. Non-smoker, 5A occupational class. 90-day elimination period.* Maximum benefit period to age 65. the benefits M arie: Female, age 38. Non-smoker, 5A occupational class. 90-day elimination period.* Maximum benefit period to age 65. the Concern The Solution The Strategy Stephen and Marie have been married for 10 years and have two children: an eight-year-old daughter and a six-year-old son. Marie is a paralegal and Stephen is an insurance underwriter. They re proud of what they ve achieved so far and have a comfortable lifestyle that they want to protect. They rely on both their incomes, so they recently purchased term life insurance policies in case of an unexpected death. Now they re wondering how their family could cope if one or both of them lost their income because of a disability. Bringing their income protection plan into balance by adding disability insurance will help to replace income in case of a disability. Stephen s salary is $75,000 per year, and Marie s is $67,000. Just as they did when they purchased life insurance, they determined how much income their family relies on and for how long they would need it. That helped them decide on a monthly benefit (the amount of income replaced each month) and benefit period (how long the benefit will last). They purchased enough life insurance to at least replace most of their lost income up until the surviving spouse s retirement; now they want to replace their income for the same length of time in case of a disability. C onfidence: know you re doing what you can to help provide financial and emotional stability for your family In this case, monthly premiums are paid in monthly bank draft mode, while the annual premium assumes one payment per year. Paying premiums more than once a year (i.e., monthly or semi-annually) results in annualized premiums greater than the annual premiums shown above. Premiums will be level to age 65. MetLife Income Guard is not available in California. *Length of time an individual must be disabled before benefits begin to accrue. Savings: stay on track towards meeting your financial goals Recovery: concentrate on getting better, returning to work and earning income again PROTECTION WHEN YOU NEED IT MOST PROTECTION THAT FITS YOUR NEEDS While many people recognize how difficult it could be for their family to pay bills and keep their lifestyle intact in case of their premature death, they look to other means to replace their income in case of a disability. Your family may be able to get by for a short time without your income or turn to other sources for help, but wouldn t you rather have a plan in place? You may already have long-term disability coverage through your employer, which is a great start. Supplementing your group benefits with individual disability insurance can ensure that your benefit amount and length of coverage are sufficient to meet your income needs. Plus, unlike group benefits, benefits from individual coverage are generally received tax-free when you pay premiums with after-tax dollars. Disability Insurance Solutions All circumstances are different, so this strategy might not fit your needs. Many options are available, and your financial professional can help you build a plan that s right for your situation. For example: If you have coverage through work, make sure it will be enough, and that you would still be protected if you change jobs or if your employer stops offering the plan. This is a hypothetical scenario only and does not depict the results of any actual disability insurance plan. The provisions in an actual plan, including benefit amounts and premiums, depend on the individual circumstances. If you re a business owner, protect your business, co-owners and employees.

4 Meet Stephen & Marie Let s see disability insurance at work. Stephen & Marie example What will it cost Stephen and Marie to balance their income protection plan with disability insurance? WITH MetLife Income Guard We work hard to provide for our family. We purchased life insurance policies, so we know that our family will have a source of income if one or both of us dies unexpectedly. Now we re wondering what would happen if a disability costs us one or both of our incomes. Monthly Benefit Monthly Premium Annual Premium Stephen $3,750 $114 $1,326 Marie $3,350 $137 $1,586 $251 $2,912 Total Cost Budgeting $250 a month could prevent an unexpected, indefinite loss of income and keep their plans on track. Assumptions: MetLife Income GuardSM S tephen: Male, age 40. Non-smoker, 5A occupational class. 90-day elimination period.* Maximum benefit period to age 65. the benefits M arie: Female, age 38. Non-smoker, 5A occupational class. 90-day elimination period.* Maximum benefit period to age 65. the Concern The Solution The Strategy Stephen and Marie have been married for 10 years and have two children: an eight-year-old daughter and a six-year-old son. Marie is a paralegal and Stephen is an insurance underwriter. They re proud of what they ve achieved so far and have a comfortable lifestyle that they want to protect. They rely on both their incomes, so they recently purchased term life insurance policies in case of an unexpected death. Now they re wondering how their family could cope if one or both of them lost their income because of a disability. Bringing their income protection plan into balance by adding disability insurance will help to replace income in case of a disability. Stephen s salary is $75,000 per year, and Marie s is $67,000. Just as they did when they purchased life insurance, they determined how much income their family relies on and for how long they would need it. That helped them decide on a monthly benefit (the amount of income replaced each month) and benefit period (how long the benefit will last). They purchased enough life insurance to at least replace most of their lost income up until the surviving spouse s retirement; now they want to replace their income for the same length of time in case of a disability. C onfidence: know you re doing what you can to help provide financial and emotional stability for your family In this case, monthly premiums are paid in monthly bank draft mode, while the annual premium assumes one payment per year. Paying premiums more than once a year (i.e., monthly or semi-annually) results in annualized premiums greater than the annual premiums shown above. Premiums will be level to age 65. MetLife Income Guard is not available in California. *Length of time an individual must be disabled before benefits begin to accrue. Savings: stay on track towards meeting your financial goals Recovery: concentrate on getting better, returning to work and earning income again PROTECTION WHEN YOU NEED IT MOST PROTECTION THAT FITS YOUR NEEDS While many people recognize how difficult it could be for their family to pay bills and keep their lifestyle intact in case of their premature death, they look to other means to replace their income in case of a disability. Your family may be able to get by for a short time without your income or turn to other sources for help, but wouldn t you rather have a plan in place? You may already have long-term disability coverage through your employer, which is a great start. Supplementing your group benefits with individual disability insurance can ensure that your benefit amount and length of coverage are sufficient to meet your income needs. Plus, unlike group benefits, benefits from individual coverage are generally received tax-free when you pay premiums with after-tax dollars. Disability Insurance Solutions All circumstances are different, so this strategy might not fit your needs. Many options are available, and your financial professional can help you build a plan that s right for your situation. For example: If you have coverage through work, make sure it will be enough, and that you would still be protected if you change jobs or if your employer stops offering the plan. This is a hypothetical scenario only and does not depict the results of any actual disability insurance plan. The provisions in an actual plan, including benefit amounts and premiums, depend on the individual circumstances. If you re a business owner, protect your business, co-owners and employees.

5 Meet Stephen & Marie Let s see disability insurance at work. Stephen & Marie example What will it cost Stephen and Marie to balance their income protection plan with disability insurance? WITH MetLife Income Guard We work hard to provide for our family. We purchased life insurance policies, so we know that our family will have a source of income if one or both of us dies unexpectedly. Now we re wondering what would happen if a disability costs us one or both of our incomes. Monthly Benefit Monthly Premium Annual Premium Stephen $3,750 $114 $1,326 Marie $3,350 $137 $1,586 $251 $2,912 Total Cost Budgeting $250 a month could prevent an unexpected, indefinite loss of income and keep their plans on track. Assumptions: MetLife Income GuardSM S tephen: Male, age 40. Non-smoker, 5A occupational class. 90-day elimination period.* Maximum benefit period to age 65. the benefits M arie: Female, age 38. Non-smoker, 5A occupational class. 90-day elimination period.* Maximum benefit period to age 65. the Concern The Solution The Strategy Stephen and Marie have been married for 10 years and have two children: an eight-year-old daughter and a six-year-old son. Marie is a paralegal and Stephen is an insurance underwriter. They re proud of what they ve achieved so far and have a comfortable lifestyle that they want to protect. They rely on both their incomes, so they recently purchased term life insurance policies in case of an unexpected death. Now they re wondering how their family could cope if one or both of them lost their income because of a disability. Bringing their income protection plan into balance by adding disability insurance will help to replace income in case of a disability. Stephen s salary is $75,000 per year, and Marie s is $67,000. Just as they did when they purchased life insurance, they determined how much income their family relies on and for how long they would need it. That helped them decide on a monthly benefit (the amount of income replaced each month) and benefit period (how long the benefit will last). They purchased enough life insurance to at least replace most of their lost income up until the surviving spouse s retirement; now they want to replace their income for the same length of time in case of a disability. C onfidence: know you re doing what you can to help provide financial and emotional stability for your family In this case, monthly premiums are paid in monthly bank draft mode, while the annual premium assumes one payment per year. Paying premiums more than once a year (i.e., monthly or semi-annually) results in annualized premiums greater than the annual premiums shown above. Premiums will be level to age 65. MetLife Income Guard is not available in California. *Length of time an individual must be disabled before benefits begin to accrue. Savings: stay on track towards meeting your financial goals Recovery: concentrate on getting better, returning to work and earning income again PROTECTION WHEN YOU NEED IT MOST PROTECTION THAT FITS YOUR NEEDS While many people recognize how difficult it could be for their family to pay bills and keep their lifestyle intact in case of their premature death, they look to other means to replace their income in case of a disability. Your family may be able to get by for a short time without your income or turn to other sources for help, but wouldn t you rather have a plan in place? You may already have long-term disability coverage through your employer, which is a great start. Supplementing your group benefits with individual disability insurance can ensure that your benefit amount and length of coverage are sufficient to meet your income needs. Plus, unlike group benefits, benefits from individual coverage are generally received tax-free when you pay premiums with after-tax dollars. Disability Insurance Solutions All circumstances are different, so this strategy might not fit your needs. Many options are available, and your financial professional can help you build a plan that s right for your situation. For example: If you have coverage through work, make sure it will be enough, and that you would still be protected if you change jobs or if your employer stops offering the plan. This is a hypothetical scenario only and does not depict the results of any actual disability insurance plan. The provisions in an actual plan, including benefit amounts and premiums, depend on the individual circumstances. If you re a business owner, protect your business, co-owners and employees.

6 * While many people understand the need to protect their families in the event of their death, they may not realize the potential financial impact of a disability. Owning life insurance is an important step toward providing for your family. In the event of your death, your life insurance policy can help your family keep their lifestyle intact providing some stability as they deal with the financial and emotional impact of their loss. working for you. disability insurance At MetLife we re working hard when you can t to provide you with income when you need it most. We have the experience, resources and commitment to help you safeguard the things that matter most to you. Discover the protection of disability insurance backed by the strength of MetLife. Like most disability insurance policies, MetLife s policies contain certain exclusions, waiting periods, reductions, limitations and terms for keeping them in force. Ask your representative about costs and complete details. All policies, riders and provisions may not be available in all states, at all issue ages and to all occupational classes. Ask your representative for complete details. Eligibility is subject to underwriting approval. MetLife, its agents and representatives do not provide tax and/or legal advice. For policies issued in New York: These policies provide disability income insurance only. They do NOT provide basic hospital, basic medical or major medical insurance as defined by the New York State Department of Financial Services. The expected benefit ratio for these policies is at least 50%. This ratio is the portion of future premiums that MetLife expects to return as benefits when averaged over all people with the applicable policy. But what would happen if you lost your income Disability income insurance is issued by Metropolitan Life Insurance Company on IDI2000-P/NC, IDI2000-P/NC-ML, IDI2000-P/GR, AH 5-88, AH 7-96-CA, AH 8-96-CA, and IDIP12-01-IDIP because of a disability? A disabling injury or illness might not just prevent you from bringing home your Life insurance products are issued by MetLife Insurance Company USA, Charlotte NC 28277, in all jurisdictions except New York, where permanent life insurance products are issued by Metropolitan Life Insurance Company, New York, NY and term life insurance products are issued by Metropolitan Life Insurance Company, New York, NY All guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company. Variable products are distributed by MetLife Investors Distribution Company. All are MetLife companies. paycheck; you might also require more resources than when you were healthy. For instance, you might have higher medical bills or need help around the house. Whether due to your death or disability, the unexpected Not FDIC-Insured Not Insured By Any Federal Government Agency Not Guaranteed by Any Bank or Credit Union loss of your income would likely affect your day-to-day life and long-term plans. For most people, income makes a lot of things possible, including: Paying for ongoing expenses, like the mortgage, groceries and car payments Working towards retirement and other financial goals Maintaining their family s way of life If you could no longer work due to illness or injury, Preparing for the Unexpected disability insurance could help maintain you and your family s financial stability. Disability insurance provides a monthly benefit that can help keep things on track until you re back on your feet and able to return to work. Metropolitan Life Insurance Company 200 Park Avenue New York, NY metlife.com CLDI24394 L [1115][All States][DC] 2014 METLIFE, INC. balancing your life and disability protection